Variable speed drive is a device that regulates the speed and rotational force of electric motor by changing the frequency of the power being fed to the motor. Motors are widely used in industries and offices. In addition, more than 65% of industrial energy is consumed by motors. Motors operate in various machines such as sewage and irrigation pumps, paper machines, power plant fans, and milking machines. Moreover, variable speed drive are essential components in electrical devices such as pump, fan, compressor, conveyor, and others where it plays a key role.
Increase in urbanization and industrialization in emerging countries such as India, China, Brazil, and others drive the demand for variable speed drive market. Further, the growth in need for energy efficiency, rise in trend for industrial automation and reduction in operating costs of any intensive industry fuel the market growth. However, high cost of deployment is expected restrain the growth of the market.
The variable speed drive market is segmented based on type, voltage, application, end user, and region. Based on type, the market is categorized into AC drive, DC drive, and servo drive. According to voltage type, the market is bifurcated into low voltage and medium voltage. Based on application, the market is divided into compressor, pumps, fans, and others. Based on end user, the market is segmented into automotive, electronic, oil & gas, power generation, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in the market include ABB Ltd., Siemens AG, Rockwell Automation, Inc., Yaskawa Electric Corporation, General Electric, Crompton Greaves, WEG, Schneider, Emerson Electric, and Danfoss.
KEY BENEFITS FOR STAKEHOLDERS
This study comprises analytical depiction of the global variable speed drives market with current trends and future estimations to illustrate the imminent investment pockets.
The overall market potential is determined to understand the profitable trends to gain a stronger coverage in the market.
The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
The current market is quantitatively analyzed from 2017 to 2023 to highlight the financial competency of the market.
Porter's Five Forces analysis illustrates the potency of the buyers and suppliers.
KEY MARKET SEGMENTS
By Type
AC Drive
DC Drive
Servo Drive
By Voltage
Low Voltage
Medium Voltage
By Application
Compressor
Pump
Fans
Others
By End User
Automotive
Electronics
Oil & Gas
Power Generation
Others
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
KEY MARKET PLAYERS PROFILED
ABB Ltd.
Siemens AG
Rockwell Automation, Inc.
Yaskawa Electric Corporation
General Electric
Crompton Greaves
WEG
Schneider
Emerson Electric
Danfoss
